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Market Infrastructure
MAS Proposes Consolidated Regulation, Licensing for Merchant Banks
By Editors | 22/05/2019
MAS is consulting on proposals to consolidate regulation of merchant banks under the Banking Act, and to move them to a licensing regime.
ESG / Sustainability
Hong Kong: An Ecosystem Approach to Bank Culture Reform
By Jeffrey Kupfer | 21/05/2019
The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.
AML / KYC
The Need for a Cross-Sector & Cross-Jurisdictional AML Regime
By Claus Christensen | 16/05/2019
It’s time to have a conversation about implementing real AML information sharing across organisations, sectors and jurisdictions, writes Claus Christensen at Know Your Customer Ltd.
Fintech / Regtech
Artificial Intelligence Holds “Immense Potential” for Risk Management – MAS
By Garima Chitkara | 16/05/2019
MAS is using artificial intelligence tools for risk detection and market surveillance, while also working to strengthen protections against cyber risk, data breaches and AI-based discrimination.
Enforcement
MAS Imposes Multi-Year Bans for ‘Dishonest Conduct’
By Editors | 10/05/2019
Two former representatives of Jefferies Singapore colluded to trade against their firm using privileged information, representing ‘deceptive conduct’ which contravenes the SFA.
Fintech / Regtech
Open Banking Security Risks May Open Pandora’s Box
By Peter Lancos | 09/05/2019
The open banking initiative could be put in jeopardy if data is not sufficiently secured, say Peter Lancos, Jonathan Naismith and Suraj Nittoor at Exate Technology.
Capital / Liquidity
MAS Consults on Revised Capital Requirements for Singapore Banks
By Garima Chitkara | 08/05/2019
The central bank has opted to use its national discretion in key areas in credit, market and operational risk management.
Fintech / Regtech
MAS Considers the Value of Allowing Virtual Banks in Singapore
By Editors | 08/05/2019
The regulator says it is engaging relevant stakeholders to ascertain the unique value that such virtual bank entrants could bring to Singapore’s banking landscape.
Fintech / Regtech
Singapore, Canada Conclude First Trial on CDBC Cross-Border Payments
By Editors | 02/05/2019
MAS and the Bank of Canada linked up experimental payment networks despite their being built on two different DLT platforms.
Securities / Derivatives
MAS Consults on Proposed Framework for Variable Capital Companies
By Editors | 02/05/2019
The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.
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